3 Question 3.1 What are the main challenges and limitations (real or potential) to the effectiveness of non - executive directors in the boardroom/ in improving corporate governance? ( i.e. what factors could limit their effectiveness?) You may provide an example of a situation where these challenges have occurred and of the impact, they have had on board effectiveness. (15) Question 3.2 Explain the idea that there is separation of corporate control from management in companies and the impact this is said to have on governance of such entities